GAMMA Investing LLC Grows Stock Holdings in TechnipFMC plc (NYSE:FTI)

GAMMA Investing LLC boosted its holdings in TechnipFMC plc (NYSE:FTI) by 59.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,858 shares of the oil and gas company’s stock after buying an additional 693 shares during the period. GAMMA Investing LLC’s holdings in TechnipFMC were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Norden Group LLC grew its stake in TechnipFMC by 2,899.1% in the 1st quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after buying an additional 366,266 shares in the last quarter. Vanguard Group Inc. grew its stake in TechnipFMC by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock valued at $803,888,000 after buying an additional 126,247 shares in the last quarter. Edgestream Partners L.P. purchased a new position in TechnipFMC in the 1st quarter valued at approximately $965,000. Atria Investments Inc bought a new position in TechnipFMC in the 1st quarter valued at $1,684,000. Finally, Raymond James & Associates boosted its holdings in TechnipFMC by 12.0% in the 2nd quarter. Raymond James & Associates now owns 339,386 shares of the oil and gas company’s stock valued at $8,875,000 after purchasing an additional 36,326 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

FTI stock opened at $26.52 on Friday. The firm’s 50-day moving average price is $26.22 and its two-hundred day moving average price is $26.21. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 56.43 and a beta of 1.50. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts predict that TechnipFMC plc will post 1.37 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

Wall Street Analysts Forecast Growth

FTI has been the subject of several analyst reports. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Citigroup raised their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. BMO Capital Markets raised their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, October 10th. Bank of America lifted their price objective on shares of TechnipFMC from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. Finally, Susquehanna lifted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.